MKH Berhad 181 21. PROPERTY DEVELOPMENT COSTS The Group 2021 2020 RM RM At cost: Freehold land At beginning of year 232,016,933 186,273,780 Additions 107,002 36,014,867 Reversal of provision for landowners’ entitlement (14,269,341) - Transfer from land held for property development (Note 18) 2,042,273 4,864,214 Transfer from joint venture deposits (Note 20 (h)) - 5,104,000 Transfer to inventories (1,236,914) (24,703) Adjustment on completion of projects (34,096,834) (215,225) At end of year 184,563,119 232,016,933 Leasehold land At beginning of year 142,540,023 176,749,248 Additions 115,281,087 5,290,405 Transfer from/(to) land held for property development (Note 18) 39,573,486 (7,006,638) Transfer from joint venture deposits (Note 20 (h)) 15,150,000 - Transfer to inventories (6,653,925) (1,428,758) Adjustment on completion of projects (78,583,708) (31,064,234) At end of year 227,306,963 142,540,023 Development costs At beginning of year 646,244,565 593,125,771 Additions 323,045,995 267,206,165 Transfer from prepayments (Note 20 (j) (i)) 17,728,191 1,148,302 Transfer from land held for property development (Note 18) 13,751,538 6,589,297 Transfer to inventories (18,926,799) (10,429,248) Adjustment on completion of projects (384,474,725) (211,395,722) At end of year 597,368,765 646,244,565 Total land and development costs 1,009,238,847 1,020,801,521 Less: Costs recognised as an expense in profit or loss At beginning of year 625,839,845 539,409,190 Additions (Note 5) 340,745,225 329,105,836 Adjustment on completion of projects (497,155,267) (242,675,181) At end of year (469,429,803) (625,839,845) 539,809,044 394,961,676 Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2021
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